FSA: Financial education is not our responsibility

clock

The FSA has refuted claims it is failing to fulfil statutory obligations to provide consumer financial education.

Simon Goldthorpe, director of Beaufort Asset Management, said part of the FSA's statutory objectives to promote market confidence and financial stability can be met by providing positive information for consumers. "Most of the education that flows from the FSA is negative, dealing only with widespread complaints, class actions and wealth warnings," said Goldthorpe. "This needs to be counterbalanced by simpler messages about the benefits of saving and general tips on how to create financial security. "Without this balance the negative outpourings result in the savings and investment...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FOS award limits increase for next financial year

FOS award limits increase for next financial year

One type of complaint sees a £10,000 rise

Sophia Panayi
clock 01 April 2026 • 1 min read
FOS increases fees for the first time in two years

FOS increases fees for the first time in two years

New fees effective from 1 April

Sophia Panayi
clock 01 April 2026 • 2 min read
FOS ten-year limit sparks adviser concerns over complaint exceptions

FOS ten-year limit sparks adviser concerns over complaint exceptions

Parliamentary scrutiny predicted

Sophia Panayi
clock 31 March 2026 • 4 min read